Pakistan’s Airline PIA Set for First Profit in Two Decades (1)

PIA Holding Co., the national airline of Pakistan, is set to report its first annual profit in more than two decades ahead of plans to sell the national carrier, according to documents seen by Bloomberg.

The airline achieved earning per share of 5.01 rupees in year ended December, marking its first profitable year since 2003 after a large chunk of its debt was moved to government books, according to audited financial statements seen by Bloomberg. The result will be submitted to the airline’s board for approval before it’s released publicly. PIA did not respond to a request for a ...